Boeing: Canaccord Genuity sees 'bullish signal'
(CercleFinance.com) - Canaccord Genuity maintains its "hold" rating on Boeing shares, while saying that the aerospace giant's capital allocation plans are bullish for its outlook.
Yesterday, the company increased its quarterly dividend by 20% and replaced its existing 18 billion dollars share buyback authorization with an additional 20 billion dollar envelope.
"The timing of the buyback announcement should not surprise investors, considering that this time of year has historically been when Boeing updates its capital allocation strategy," the Canadian broker writes in a note.
According to Canaccord, the only hitch is the macro/trade outlook, which remains the primary headwind for the stock.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
Yesterday, the company increased its quarterly dividend by 20% and replaced its existing 18 billion dollars share buyback authorization with an additional 20 billion dollar envelope.
"The timing of the buyback announcement should not surprise investors, considering that this time of year has historically been when Boeing updates its capital allocation strategy," the Canadian broker writes in a note.
According to Canaccord, the only hitch is the macro/trade outlook, which remains the primary headwind for the stock.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.